Matrixport launches gold token XAUm collateralized lending product, further expanding XAUm's financial usage scenarios

BlockBeats News: On July 16th, Matrixport announced the official launch of its gold token XAUm collateralized lending product, which supports XAUm holders to pledge XAUm and lend USDC or USDT on the Matrixport app, with a pledge rate of 80%. Matrixport lending products now support 10 mainstream asset pledge loans, including BTC, ETH, SOL, and STBT. This move is a further implementation of Matrixport's commitment to "promote the improvement of XAUm application scenarios" after announcing the establishment of a $3 million XAUm strategic reserve. Public information shows that XAUm has previously supported protocol swap functions such as UniSwap, PancakeSwap, Rooster, and launched mainstream on chain protocols such as Kinza Finance, Avalon Finance, and Curve Lend for over collateralization. By integrating XAUm collateralized lending into the Matrixport app, not only has the financial usage of the gold token XAUm expanded in centralized institutions, but it has also simplified the way XAUm holders can improve their capital utilization.